RELAYIMMO: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
RELAYIMMO
Largest movements
- Tangible fixed assets +€121,842
up €121,842 (+44.7%), from €272,634 to €394,476
of which Land and buildings: +€114,499
- Cash +€54,410
up €54,410 (+11.3%), from €482,503 to €536,913
mainly Other debts (+€163,226) and Net result for the year (+€53,678)
- Current investments +€27,000
up €27,000 (+169%), from €16,000 to €43,000
- Other debts +€163,226
up €163,226 (+80.4%), from €202,975 to €366,201
- Profit (loss) carried forward +€53,678
up €53,678 (+25.2%), from €213,147 to €266,825
- Tax, wage and social debts -€31,080
down €31,080 (-44.7%), from €69,581 to €38,501
of which Taxes: -€32,028
- Debts after one year +€12,939
up €12,939 (+6.5%), from €198,877 to €211,817
- Contributions +€12,400
up €12,400 (+200%), from €6,200 to €18,600
- Financial charges +€32,266
up €32,266 (+54.6%), from €59,130 to €91,396
- Staff costs +€31,366
up €31,366 (+24.8%), from €126,487 to €157,853
- Gross operating margin -€19,757
down €19,757 (-5.4%), from €366,353 to €346,596
- Taxes -€16,983
down €16,983 (-49.0%), from €34,658 to €17,675
- Provisions -€6,929
down €6,929, from €2,909 to -€4,020
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Derived cash bridge
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €823,833 | €1,023,196 | +€199,363 | +24.2% |
| Fixed assets | 21/28 | €272,809 | €394,651 | +€121,842 | +44.7% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €272,634 | €394,476 | +€121,842 | +44.7% |
| Land and buildings | 22 | €245,955 | €360,453 | +€114,499 | +46.6% |
| Furniture and vehicles | 24 | €26,679 | €34,023 | +€7,343 | +27.5% |
| Financial fixed assets | 28 | €175 | €175 | = | 0.0% |
| Current assets | 29/58 | €551,024 | €628,545 | +€77,522 | +14.1% |
| Amounts receivable within one year | 40/41 | €49,726 | €45,315 | -€4,410 | -8.9% |
| Trade receivables | 40 | €29,418 | €41,336 | +€11,919 | +40.5% |
| Other amounts receivable | 41 | €20,308 | €3,979 | -€16,329 | -80.4% |
| Current investments | 50/53 | €16,000 | €43,000 | +€27,000 | +169% |
| Cash at bank and in hand | 54/58 | €482,503 | €536,913 | +€54,410 | +11.3% |
| Deferred charges and accrued income | 490/1 | €2,795 | €3,317 | +€522 | +18.7% |
| Total equity and liabilities | 10/49 | €823,833 | €1,023,196 | +€199,363 | +24.2% |
| Equity | 10/15 | €239,758 | €305,835 | +€66,078 | +27.6% |
| Contributions | 10/11 | €6,200 | €18,600 | +€12,400 | +200% |
| Reserves | 13 | €20,410 | €20,410 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,660 | €1,660 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,660 | €1,660 | = | 0.0% |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Profit (loss) carried forward | 14 | €213,147 | €266,825 | +€53,678 | +25.2% |
| Provisions and deferred taxes | 16 | €59,029 | €55,009 | -€4,020 | -6.8% |
| Provisions for liabilities and charges | 160/5 | €59,029 | €55,009 | -€4,020 | -6.8% |
| Other liabilities and charges | 164/5 | €59,029 | €55,009 | -€4,020 | -6.8% |
| Amounts payable | 17/49 | €525,046 | €662,352 | +€137,306 | +26.2% |
| Amounts payable after more than one year | 17 | €198,877 | €211,817 | +€12,939 | +6.5% |
| Financial debts | 170/4 | €198,877 | €211,817 | +€12,939 | +6.5% |
| Amounts payable within one year | 42/48 | €326,169 | €450,536 | +€124,367 | +38.1% |
| Current portion of amounts payable after more than one year | 42 | €30,942 | €33,174 | +€2,232 | +7.2% |
| Trade debts | 44 | €15,991 | €9,659 | -€6,332 | -39.6% |
| Suppliers | 440/4 | €15,991 | €9,659 | -€6,332 | -39.6% |
| Advances received on contracts in progress | 46 | €6,680 | €3,000 | -€3,680 | -55.1% |
| Taxes, remuneration and social security | 45 | €69,581 | €38,501 | -€31,080 | -44.7% |
| Taxes | 450/3 | €54,508 | €22,479 | -€32,028 | -58.8% |
| Remuneration and social security | 454/9 | €15,074 | €16,022 | +€948 | +6.3% |
| Other amounts payable | 47/48 | €202,975 | €366,201 | +€163,226 | +80.4% |
| Remuneration, social security and pensions | 62 | €126,487 | €157,853 | +€31,366 | +24.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,316 | €29,656 | +€1,339 | +4.7% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €2,909 | -€4,020 | -€6,929 | |
| Other operating charges | 640/8 | €3,779 | €3,157 | -€622 | -16.5% |
| Gross operating margin | 9900 | €366,353 | €346,596 | -€19,757 | -5.4% |
| Operating profit (loss) | 9901 | €204,862 | €159,951 | -€44,911 | -21.9% |
| Financial income | 75/76B | €798 | €2,798 | +€2,000 | +251% |
| Recurring financial income | 75 | €798 | €2,798 | +€2,000 | +251% |
| Financial charges | 65/66B | €59,130 | €91,396 | +€32,266 | +54.6% |
| Recurring financial charges | 65 | €59,130 | €91,396 | +€32,266 | +54.6% |
| Profit (loss) for the period before taxes | 9903 | €146,529 | €71,352 | -€75,177 | -51.3% |
| Income taxes | 67/77 | €34,658 | €17,675 | -€16,983 | -49.0% |
| Profit (loss) for the period | 9904 | €111,871 | €53,678 | -€58,194 | -52.0% |
| Profit (loss) for the period to be appropriated | 9905 | €111,871 | €53,678 | -€58,194 | -52.0% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.